African Business News

ICOMIA adds South African export council

The South African Boat Builders Export Council rejoined the International Council of Marine Industry Associations.

The council, referred to as Sabbex, brings the number of full ICOMIA members to 36 that span 34 countries.

“We very much look forward to working with Sabbex again in the development of the South African boat building industry by supporting its activities in export promotion, development and market prioritization,” ICOMIA secretary general Udo Kleinitz said in a statement.

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Kenya launches national trade policy to boost forex earnings

Kenya on Monday launched a National Trade Policy that aims to boost the country’s foreign exchange earnings, a senior official said Monday.

The new policy adds impetus to the robust trade policy reforms that the country has pursued under regional and multilateral trade arrangements.

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Africa’s export markets set to boom in the wake of ports expansion

With Africa’s overall port utilisation capacity now exceeding 70%, ports authorities and terminal operators are actively calling for partners in development to equip Africa’s ports and harbours for post-neo-panamax shipping requirements. As international trade volumes increase at growth rates of 6-8% per year, expansion projects in Africa follow suit and gain momentum.

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Morocco’s Current Account Situation Positive Despite Rising Energy Imports: BMI

“Morocco’s current account deficit widened to 4.4% of GDP in 2016, up from 2.1% of GDP in 2015, amid rapidly rising imports and sluggish exports. We now forecast the current account deficit to shrink to 3.5% of GDP in 2017 and 3.3% in 2018, benefiting from the recovery of key exports sectors,” reads the report.

Sector-Wide Export Growth

Export growth is rising in Morocco.

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